China invests 1.84b yuan for agriculture

Updated: 2011-06-06 13:33

(China Daily)

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China invested 1.84 billion yuan ($284.54 million) during the first five months of the year to support agricultural projects, according to a statement from the Ministry of Finance.

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The investments were used to pay the interest on 75.76 billion yuan in loans made for agricultural projects, said a statement issued by the state agricultural comprehensive development office of the Ministry.

Discounted loans often go to projects that have to do with grain, cotton and vegetable oil processing.

The office supports the industrialization of agricultural and boosting the incomes of rural farmers, the statement said.


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